Sunday May 19, 2024
(GMT -4) Est Time: 15:30
Importance: High
Fed Chair Powell Spesks
Federal Reserve (Release URL)
Federal Reserve Chair Jerome Powell (Feb. 2018 – Feb. 2026) is to speak. As head of the Fed, which controls short term interest rates, he has more influence over the U.S. dollar’s value than any other person. Traders closely watch his speeches as they are often used to drop hints regarding future monetary policy.
Monday, May 20, 2024
Holiday –
Victoria Day
Canada
Holiday –
Election Day
India
Holiday – Pentecost
Switzerland
Holiday – Pentecost
Norway
(GMT -4) Est Time: 08:45
Importance: Medium
FOMC Member Bostic Speaks
Currency : USD
Source of Report: Federal Reserve (Release URL)
Federal Reserve Bank of Atlanta President Raphael Bostic. His public engagements are often used to drop subtle clues regarding future monetary policy.
(GMT -4) Est Time: 21:30
Importance: Medium
RBA Meeting Minutes
Currency : AUD
Source of Report: Reserve Bank of Australia (Release URL)
The Reserve Bank of Australia (RBA) Monetary Policy Meeting Minutes are a detailed record of the bank’s most recent policy-setting meeting, containing in-depth insights into the economic conditions that influenced the rate decision.
More dovish than expected minutes could be taken as negative/bearish for the AUD, while more hawkish than expected minutes could be taken as positive/bullish for the AUD.
Tuesday, May 21, 2024
(GMT -4) Est Time: 22:00
Importance: High
RBA Interest Rate Decision
| Actual | |
| Forecast | 5.50% |
| Previous | 5.50% |
Currency: AUD
Source Of Report:
Reserve Bank of New Zealand (Release URL)
The Reserve Bank of New Zealand (RBNZ) governor decides where to set the rate after consulting senior bank staff and external advisers. As short term interest rates are an important determinant of currency valuation, traders watch interest rate changes closely.
A reading that is stronger than forecast is generally supportive (bullish) for the NZD, while a weaker than forecast reading is generally negative (bearish) for the NZD.
Wednesday, May 22, 2024
Holiday
Vesak Day
Singapore
(GMT -4) Est Time: 02:00
Importance: High
CPI (YoY) (Apr)
| Actual | |
| Forecast | 2.1% |
| Previous | 3.2% |
Currency: GBP
Source Of Report: Office for National Statistics (Release URL)
The Consumer Price Index (CPI) measures the change in the prices of goods and services contained in a basket of consumer items. The Central bank pays very close attention to this figure in its role of maintaining price stability.
A reading that is stronger than forecast is generally supportive (bullish) for the GBP, while a weaker than forecast reading is generally negative (bearish) for the GBP.
(GMT -4) Est Time: 13:00
Importance: Medium
European Central Bank Non-Monetary Policy Meeting
| Actual | |
| Forecast | |
| Previous | 4.560% |
Currency: EUD
Source Of Report: European Central Bank (Release URL)
The European Central Bank’s (ECB) Non-Monetary Policy Meeting is held once a month. A report based on decisions taken is published after the meeting. The European Central Bank regulates financial environment in the eurozone. The ECB administers monetary policy of the eurozone and is responsible for the following: – Conducting currency transactions – Managing gold and foreign exchange reserves of the ECB – Managing gold and foreign exchange reserves of the ECB – Operation of the eurozone’s financial market infrastructure – Issuing sanctions for euro emission (eurozone countries can issue euros, but the exclusive right to determine the emission amount and to issue a permission belongs to the ECB) – Collecting statistics on the fulfillment of policy by European regulators – Ensuring stability of the financial system, control over the banking sector – Some domestic and foreign policy issues related to economics and finance – Legal regulation and other aspects of the eurozone’s financial system regulation, which are not related to monetary policy measures These questions are discussed during the Non-Monetary Policy Meeting. The meeting is held by the Governing Council, which includes 6 members of the Supervisory Board (including the President) and representatives of National Banks of the eurozone. Economists monitor this event in the context of the general current political and economic situation. This meeting has a lower impact on quotes than the Interest Rate decision or the Monetary Policy Meeting. However, in some cases, decisions taken during the meeting can indirectly affect euro quotes.
(GMT -4) Est Time: 04:05
Importance: Medium
ECB President Lagarde Speaks
Currency: EUR
Source Of Report: European Central Bank (Release URL)
European Central Bank (ECB) President Christine Lagarde (November 2019 – October 2027) is to speak. As head of the ECB, which sets short term interest rates, she has a major influence over the value of the euro. Traders watch her speeches closely as they are often used to drop subtle hints regarding future monetary policy and interest rate shifts. Her comments may determine a short-term positive or negative trend.
(GMT -4) Est Time: 10:00
Importance: High
Existing Home Sales (Apr)
| Actual | |
| Forecast | 4.21 |
| Previous | 4.19 |
Currency: USD
Source Of Report: National Association of Realtors (Release URL)
Existing Home Sales measures the change in the annualised number of existing residential buildings that were sold during the prior month. This report helps to gauge the strength of the U.S. housing market and is an important indicator of overall economic strength.
A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.
(GMT -4) Est Time: 10:30
Importance: High
Crude Oil Inventories
| Actual | |
| Forecast | |
| Previous | -2.508M |
Currency: USD
Source Of Report: Energy Information Administration (Release URL)
The Energy Information Administration’s (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation.
If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices. The same can be said if a decline in inventories is less than expected.
If the increase in crude is less than expected, it implies greater demand and is bullish for crude prices. The same can be said if a decline in inventories is more than expected.
Thursday, May 23, 2024
(GMT -4) Est Time: 08:30
Importance: High
Initial Jobless Claims
| Actual | |
| Forecast | 221K |
| Previous | 222K |
Currency: USD
Source Of Report: Department of Labor (Release URL)
Initial Jobless Claims measures the number of people who filed for unemployment insurance for the first time during the past week. This is the most timely U.S. economic data, but the market impact varies from week to week.
A reading that is higher than forecast is generally negative (bearish) for the USD, while a lower than forecast reading is generally supportive (bullish) for the USD.
(GMT -4) Est Time: 09:45
Importance: High
Manufacturing PMI (May)
| Actual | |
| Forecast | 50.1 |
| Previous | 50.0 |
Currency: USD
Source Of Report: Markit (Release URL)
The Manufacturing Purchasing Managers’ Index (PMI) is a diffusion index incorporating survey results provided by manufacturing firms throughout the country. A reading above fifty suggests the manufacturing sector is expanding, while a reading below fifty suggests the manufacturing sector is in contraction. Policymakers and traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, rather than waiting for the hard data to emerge. While manufacturing accounts for a far smaller percentage of economic output than services, it is far more cyclical and is therefore a useful indicator of where in the economic cycle the economy is currently situated. A reading that is stronger than forecast is generally supportive (bullish) for the USD while a weaker than forecast reading is generally negative (bearish) for the USD.
(GMT -4) Est Time: 13:00
Importance: High
New Home Sales (Apr)
| Actual | |
| Forecast | 674k |
| Previous | 693k |
Currency: USD
Source Of Report: Census Bureau (Release URL)
New Home Sales measures the annualised number of new single-family homes that were sold during the prior month. When it’s released ahead of Existing Home Sales, this report tends to have more impact because the two reports are highly correlated.
A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.
Friday, May 24, 2024
(GMT -4) Est Time: 02:00
Importance: High
German GDP (QoQ)
| Actual | |
| Forecast | 0.2% |
| Previous | -0.3% |
Currency: EUR
Source Of Report: Statistisches Bundesamt Deutschland (Release URL)
Gross Domestic Product (GDP) is the broadest measure of economic activity and is a key indicator of economic health. The quarterly percent changes in GDP show the growth rate of the economy as a whole.
A reading that is stronger than forecast is generally supportive (bullish) for the EUR, while a weaker than forecast reading is generally negative (bearish) for the EUR.
(GMT -4) Est Time: 08:30
Importance: High
GDP (MoM) (Mar)
| Actual | |
| Forecast | -0.5% |
| Previous | 2.6% |
Currency: GDP
Source Of Report:
Census Bureau (Release URL)
Durable Goods Orders reports the change in the total value of new orders for long lasting manufactured goods, including transportation items.
A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.
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